Interesting viewing was to be had on BBC2 last night in the form of Theo’s Adventure Capitalists. “Dragon’s Den star Theo Paphitis follows the fortunes of brave and bold British companies trying to expand in three of the world’s most dynamic emerging markets – India, Brazil and Vietnam.”
Aside from being moderately entertaining, the programme also shed some light on how vital it is to strike a balance between business and cultural knowledge when seeking to expand into international markets.
As Theo summarised – “Doing business in another culture isn’t easy. There are all kinds of pitfalls ahead. Cultural differences, red tape, import duties, ingrained consumer habits and a different way of doing business.”
Having a business plan which incorporates the above factors would go a long way to making such a venture work. In turn, employing people who have not only the business savvy, but also the knowledge of local customs should be a factor too.
If you are looking to grow your business internationally and require your recruitment managed to ensure you hire people with the combination of work experience, skills and language ability then contact us on +44 (0) 203 008 8636
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